# 38 Ill. Adm. Code 110.40: Section 110.40 File of Original Papers

> Illinois · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_40

## Section

- **Citation:** 38 Ill. Adm. Code 110.40
- **Heading:** Section 110.40 File of Original Papers
- **Jurisdiction:** Illinois
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Illinois Administrative Code / Title 38 FINANCIAL INSTITUTIONS / CHAPTER I: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION / Part 110 CONSUMER INSTALLMENT LOAN ACT / Section 110.40 File of Original Papers

## Text

Section 110
Section 110.40  File of
Original Papers
a)         Files
1)         A separate file shall be maintained for each obligor and shall
contain the note, security agreement, or financing statement, wage assignment,
acknowledged copy of the disclosure statement of loan, insurance certificate, a
separately signed statement indicating the borrower has received a copy of
right to rescind (if required), or waiver, if any, and all other evidence of
indebtedness or security pertaining to the loan, except when said documents are
in the custody of a court or of an agent for collection, or are hypothecated as
herein provided.  Evidence of disclosure must be retained for two years from
the date of the loan.  A licensee may maintain these files in any medium or
format which accurately reproduces original documents or papers.
2)         When an obligor is also a co-maker or obligor on another loan,
the file of such obligor shall be cross-referenced to the other, unless such
cross-reference is included on the alphabetical record required by Section
110.60.
b)         All legal instruments bearing evidence of indebtedness taken
in connection with a loan and executed by an obligor including the disclosure
statement of loan shall bear the loan number.
c)         No licensee shall offer to or accept from an obligor any
instruments that contain blank terms.
d)         All spaces or sections not used in the preparation of legal
documents shall be ruled out or designated as “none”, or “n/a”.
e)         Any amendments to closed-end contracts shall be signed by the
obligor and creditor.
f)         The name and address of the licensee making the loan shall
appear on any note, wage assignment, security agreement or other legal
instrument taken from an obligor before the proceeds of the loan are delivered.

## Nearby sections

- [38 Ill. Adm. Code 110.1 Section 110.1  Definitions](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_1.md)
- [38 Ill. Adm. Code 110.2 Section 110.2  Rate Cap Disclosure Notices](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_2.md)
- [38 Ill. Adm. Code 110.5 Section 110.5  Applicability](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_5.md)
- [38 Ill. Adm. Code 110.10 Section 110.10  Record Keeping](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_10.md)
- [38 Ill. Adm. Code 110.15 Section 110.15  Application for License; Controlling Person](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_15.md)
- [38 Ill. Adm. Code 110.16 Section 110.16  Positive Net Worth](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_16.md)
- [38 Ill. Adm. Code 110.20 Section 110.20  Loan Register](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_20.md)
- [38 Ill. Adm. Code 110.30 Section 110.30  Individual Account Records](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_30.md)
- [38 Ill. Adm. Code 110.40 Section 110.40  File of Original Papers](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_40.md)
- [38 Ill. Adm. Code 110.50 Section 110.50  Cash Book](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_50.md)
- [38 Ill. Adm. Code 110.60 Section 110.60  Alphabetical Record of Co-Makers, Obligors or Guarantors](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_60.md)
- [38 Ill. Adm. Code 110.65 Section 110.65  Permanent File](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_65.md)
- [38 Ill. Adm. Code 110.70 Section 110.70  Payments](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_70.md)
- [38 Ill. Adm. Code 110.80 Section 110.80  Interest-Bearing Loans](https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_80.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T38_P110_S110_40. Check the current official text before relying on it. Not legal advice.